Section 17Section 17

s. 17

17 [(1) The business provided for in sub-clauses (i), (ii) and (iii) of clause (ii) of Article 16 may be transacted with any industrial concern, either in the public or in the pr ivate sector, but shall not be transacted with any industrial concern incorporated outside Bangladesh.] [(2) Short term advances and loans may be made, according to the need, for the purpose of working capital of any industrial concern financed by the Bank.] (3) No guarantee, loan or subscription provided for in sub clauses (ii) and (iii) of clause (2) of Article 16 shall be made which is not secured by pledge, mortgage, hypothecation or assignment of any property, movable or immovable, to the extent determined by the Board or by a contract to mortgage, hypothecate or assign any property which may be acquired in future with or without financial assistance of the Bank.

1. 18. Clause (2) was substituted by section 2 of The Bangladesh Shilpa Bank (Amendment) Act, 1992 (Act No. 40 of 1992)